“We plan to double our local business revenue in the next three years. We will have three pillars – the global inhouse centres that are focusing on innovation and carving out other parts of the operations, multinational companies that are expanding in India and local Indian companies,” Chandramouli told ET in an interview. He did not disclose the India revenue numbers. Though work moving to captives is one of the reasons that the growth of Indian IT companies has slowed, they are seeing some opportunity in helping foreign companies set up these centres on a buildown-operate-transfer model. Capgemini is taking a leaf out of the Indian service providers in helping captives set shop in the country.

Chandramouli said that local Indian companies were still price-sensitive market but that the company was seeing opportunity with companies that were beginning to invest in digital technologies.

Capgemini has about 3,500 employees in its India delivery team but does not disclose the revenue it earns from the local market, though it is a fraction of the company’s overall revenue.

The local business unit also excludes the revenue from the company’s financial services segment, which is housed in a separate unit.

“We grew 20% year-overyear in the local business,” he said without disclosing the base revenue numbers.

He added that the company was seeing more annuity type revenue than project-based revenue which is typically volatile. Chandramouli said having a dedicated delivery unit for India was key to any hopes for success. In the past, IT employees have been less interested in working for the India market as they focused on the ability to get visas and move to projects outside India. Indian CIOs have also complained that the attrition on their projects tends to be much higher.

“With the visa issues elsewhere, people are realizing that it is a good market to work in. You get the ability to interact with the top leadership over here, whereas in other projects you would just work with the technology heads. It is a mindset change,” Chandramouli said.